We integrate education planning directly into your broader financial plan. This ensures that every dollar invested in your children’s or grandchildren’s future works seamlessly with your tax, retirement, and estate strategies.
RESPs as Powerful Planning Tools
Registered Education Savings Plans (RESPs) are one of the most effective ways to prepare for post-secondary costs. With a lifetime contribution limit of $50,000 per child, RESPs offer flexibility and significant growth potential. The Canada Education Savings Grant (CESG) provides a 20% match on annual contributions, up to $500 per year and $7,200 per child. Missed a contribution year? Unused room can be carried forward, letting you catch up later. RESPs also allow flexibility if circumstances change, such as transferring funds between children or even moving balances to an RRSP under certain conditions. As your advisors, we make sure you capture every opportunity available.
Education Planning Beyond Tuition
Post-secondary education planning goes far beyond tuition costs. Families must also prepare for housing, books, transportation, and living expenses. Even affluent families can find these expenses add up quickly. By integrating education planning into your overall wealth plan, we ensure you are ready for the full financial picture. This means that when the time comes, you can focus on your family’s experience, not the financial stress.
Tailored Strategies for Every Family
No two families approach education the same way. Some want to fund multiple grandchildren, while others prioritize specialized programs or early withdrawals. We tailor post-secondary education planning to your unique goals and circumstances. Every recommendation reflects your family’s values and long-term vision. For high-value families, this may also involve creating multi-generational education strategies that include not only children but also grandchildren.
Integration With Wealth Planning
What sets us apart is how we integrate education savings into your broader financial picture. Our advanced financial modeling shows you how RESP contributions, withdrawals, and tax benefits align with retirement planning, wealth preservation, and estate strategies. This comprehensive approach ensures your education planning goals never compromise your other priorities but instead complement them.
Investing in Education, Investing in the Future
Post-secondary education planning is one of the most important investments you can make in your family’s future. At Giesbrecht & Associates, we ensure that your education savings plan is fully integrated, tax-efficient, and aligned with your long-term goals.